Career Planning and Management Succession: The Case of “PHC Franchised Restaurants Public Ltd” Company
In today’s knowledge based global economy, human capital is recognized as a key driver of success in all types of organizations. Career planning is a lifelong process. A career development plan is beneficial for both employers and employees. It allows employers to recruit, train and develop the best available employees. This process enables employees to feel like that they are progressing professionally and are treated fairly by the company based on their talents. This research focuses in one specific company located in Cyprus and the aim is to study whether the in-house career planning strategy of PHC Franchised Restaurants Public Ltd is appropriate and whether it enables the development of the management talent within the company. The literature review covered a wide area and an extensive list of different books and articles. The traditional means by which employees have pursued a career path is an inappropriate and inadequate model. Instead, education, family and career planning should be carded on together as part of one's life, until one reaches the limits of aspiration, potential, energy and ability—if indeed there are such limits. The implicit question to be considered is, "Can careers be planned?" The answer is YES. Moreover, the researcher had to contact the company and ask for permission so to be able to write this research and have as much help as she could have. The present study is a case study research, using a Quantitative Methodology and a survey instrument to collect data. The sample for the questionnaire was 30 employees from different shops-brands of PHC located in Paphos. This is in the limits of the statistical theory but in reality it includes the majority of the employees in Pafos. The research demonstrated that, contrary to expectations, the employees of PHC are not as satisfied from their jobs and careers. Although they feel that their jobs are safe and that the working environment is friendly, they also feel there are few opportunities for career development. Almost all employees find themselves stuck in the same position for years. One significant finding is that the Company is treading the different brands differently with different ideas and plans. The main problem that came out of this is that there is discrimination among the different brands orchestrated from the Head Quarters.The researcher came out with few ideas-actions which will serve like tool so to overcome the most important barrier of this task and the employees of PHC be satisfied again with their work. The challenge for PHC Company is an effort to succeed not only in career planning and succession management, but as an organisation in our turbulent environment is to change its culture. The chapter is concluded with suggestions for further and an overview of the recommendations and benefits to be gained.